(Yicai Global) Dec. 25 -- China is striving to open its market for overseas firms by crimping its negative list to allow foreign investment in sectors such as insurance, securities and automobiles.
The National Development and Reform Commission and Ministry of Commerce jointly released a new edition of the list, under which the number of items more than halved to 151 and the tally of measures fell over 30 percent to 581, state-backed Xinhua News Agency reported today.
Among the 151 no-go items, some four fields remain absolutely forbidden for foreign investors to access, including illegal financial and unlawful internet-related business. Other 147 fields may become available upon permits that are granted on a case-by-case basis.
In March 2016, China piloted its negative list for market access in the cities of Tianjin, Shanghai and Guangzhou, as well as the southeastern province of Fujian. The pilot zone expanded to 15 provinces last year.
Editor: Emmi Laine